Independent Review Committee for Investment Funds

National Instrument 81-107 (NI 81-107), implemented November 1, 2007, requires the existence of an Independent Review Committee (the “IRC”) to provide oversight of potential conflicts of interest in the management of funds. Although primarily targeting open-end mutual funds, NI 81-107 also applies to the three closed-end funds (the “Funds”) managed by Morgan Meighen & Associates Limited. The initial members of each of the Fund’s IRC was comprised of the same three individuals (Messrs. Lunan, Pugh and Raymond). In the second quarter of 2008, such initial members of the IRC of each of the Funds unanimously determined that it would be beneficial for the composition of each Fund’s IRC to be comprised of the same individuals who serve as independent members of the Board of Directors of the corresponding Fund. As a result, effective June 30, 2008, a restructuring of each Fund’s IRC occurred resulting in the members of the IRC for each Fund to be as follows: for Canadian General Investments, Limited: James F. Billett, James G. Cook, R. Neil Raymond and Richard O’C Whittall; for Canadian World Fund Limited: Thomas W.R. Lunan, Jack H. B. Nederpelt and Richard O’C Whittall; for Third Canadian General Investment Trust Limited: Shawn S. Cooper, Robert S. Hart and Paul M. Pugh.